How do I accept cryptocurrencies in my shop?

If corona virus has taught us anything, we cannot afford to be left behind on digital trends. If history was accelerated by COVID-19, so must we and our companies. And what could be nicer than demonstrating your excellent handling of crypto assets? In this series, you will learn how to accept cryptocurrencies in your company.

Why cryptocurrencies?

It is a very natural question. Well, although we are convinced of the value of cryptocurrencies in the digital world that is being built up, it does not mean that you, dear reader and entrepreneur, have to be. So it’s normal for you to start this article and wonder why I should accept cryptocurrencies.

First, let’s comment on the basics. Cryptocurrencies are primarily a means of internationalizing your company. That’s right, there are hundreds of opportunities for entrepreneurship out there that can be successful not only nationally but also internationally.

However, using different types of currencies worldwide can be an obstacle.

After all, it is not so easy for a service company in Argentina to sell its products in Colombia. This would lead to several complications, from the exchange rate between Colombian and Argentine pesos to the banking system to complete the transaction. With cryptocurrencies, you don’t have to worry about that.

In addition, with cryptocurrencies, you can access an alternative payment system that is protected from the collapse of the financial system in your country. It doesn’t matter whether the network of all banks is temporarily down. You can still receive payments with crypto assets.

As if that weren’t enough, cryptocurrencies give you access to the crypto world. With your customers’ payments, you can invest in crypto assets and generate a second source of income. Save with them and wait for their value to increase to make a profit. Or use them in one of the numerous options that the crypto world offers.

The best answer to why you should accept cryptocurrencies in your company is another question: why not? As you will see, accepting crypto assets is a very simple process that allows you to open up new markets and customers.

Is it really safe?

“”Well, I understand why I should accept cryptocurrencies in my shop, but is it safe? I’ve heard a lot about Bitcoin scams“”

I’m so glad you asked this, dear reader, as this is one of the biggest misunderstandings in the crypto world. From now on, however, we can assure you that using cryptocurrency is as much or safer than using traditional fiat money.

And that means cryptocurrencies are based on blockchain technology. It consists of a transparent, encrypted, distributed and impossible to hack database. So your savings on crypto assets remain secure even without an organization behind them.

However, this does not prevent fraudsters or cyber criminals from existing in the crypto world. Waiting for you to comment on a mistake to try and steal your money. Be it fraud where they promise astronomical returns if you invest your cryptocurrencies in them. Or break the security of your wallet to take your money.

However, this is not a greater risk than we can have when using traditional money. After all, cheating with fiat money is far more common than with cryptocurrencies. And if we’re not careful with our bank passwords, a malicious person can enter our accounts and redeem our savings.

Contrary to rumors, a chain analysis found that only 1% of all Bitcoin transactions are related to illegal activity. Therefore, you can accept cryptocurrencies in your company and make sure everything is in order if you take the same care as with your fiat money.